FTC Approves V&S Buyout Under Certain Conditions

The Federal Trade Commission today issued a complaint charging that Pernod Ricard's proposed $9 billion acquisition of Swedish spirits company Vin & Sprit (V&S) would be anticompetitive and in violation of U.S. antitrust laws because it would effectively combine the two most popular brands of "super-premium" vodka sold nationwide, Absolut and Stolichnaya. To eliminate the anticompetitive effects of the proposed transaction, the FTC will require Pernod to end its distribution agreement with the owners of Stolichnaya, Spirits International BV (SPI),